tenants-in-common fallen out and need to remortgage

[Pamelapamelamarch]

Hi there,

I'd really appreciate some urgent advice. I bought a flat 5 years ago with a friend. I had a deposit but I didn't have enough of a salary for a mortgage.

My friend agreed to own the flat as tenants-in-common so I could obtain a mortgage. The agreement was that I would pay for everything - all mortgage repayments, capital repayments, interest, repairs, renovations and that the flat was mine. I would live in it. He would not.

We held the property as tenants in common with me as 99% share and him as 1% share.

Since we completed, he as never paid a penny and the agreement has worked as we outlined. However, we have massively fallen out and he is now very angry with me.

The mortgage is due to come to an end in 5 months. I need to remortgage the property. I would like to take him off the mortgage and off the title deeds - however, I feel he might be very difficult.

My worry is - and this is worst case scenario - that he will just not respond to anything or will not agree to take his name off and will not agree to remortgage ? What would happen in this case? Will I still be able to renew a mortgage in my name alone?

I am really very stressed about this. if anyone can offer any legal advice, I'd be very grateful.

[20questions]

Best run this by a specialist property lawyer to at least know where you stand and steps needed to be taken in the event of him being difficult (he may not be!) Could you wait a couple of weeks when he may have calmed down and try to mend bridges a little (grovel that it was all your fault etc etc but don't mention the remortgage!). Maybe he will thaw enough for you to then approach him re the mortgage issue..
Good luck - and BTW despite what has happened I think what you did to enable you to buy a property was a good idea!